AAEDC officials said they will apply to be fund managers again when additional funds become available, which will likely be later this year.
"It was really good timing because I was considering different ways of growing my company," said Moore, who is the founder and CEO of the company. "I knew that a conventional type of small business loan from a bank or either from the (
The state's loan program was set up in 2007 when the
Outside of the AAEDC,
The loans ranged between
Along with Volt, the funds ranged from
Much of the loans were awarded to businesses that were in the startup phase and about 30 percent went to technology companies, said
"There's a great need for small business lending throughout the state and throughout the country," Primosch said. "We're doing loans that are outside that traditional banking box, but there still a great need for this type of lending in